Dayforce (NYSE:DAY) Price Target Raised to $95.00

Dayforce (NYSE:DAY) had its target price lifted by Mizuho from $85.00 to $95.00 in a report issued on Wednesday,Benzinga reports. They currently have an outperform rating on the stock.

A number of other equities research analysts have also recently commented on DAY. Piper Sandler upped their target price on shares of Dayforce from $71.00 to $82.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. TD Cowen upped their target price on shares of Dayforce from $58.00 to $62.00 and gave the company a “hold” rating in a report on Monday, October 7th. Needham & Company LLC upped their target price on shares of Dayforce from $82.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday. KeyCorp initiated coverage on shares of Dayforce in a report on Tuesday, September 24th. They issued an “overweight” rating and a $70.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Dayforce from $70.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $79.08.

Dayforce Price Performance

Shares of NYSE:DAY opened at $74.56 on Wednesday. The company has a 50-day simple moving average of $65.04 and a 200-day simple moving average of $58.09. Dayforce has a one year low of $47.08 and a one year high of $81.32. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.15 and a current ratio of 1.15. The stock has a market capitalization of $11.76 billion, a price-to-earnings ratio of 225.95, a PEG ratio of 3.62 and a beta of 1.27.

Insiders Place Their Bets

In other news, insider Jeffrey Scott Jacobs sold 643 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $63.37, for a total transaction of $40,746.91. Following the completion of the transaction, the insider now directly owns 34,074 shares of the company’s stock, valued at $2,159,269.38. This trade represents a 1.85 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Stephen H. Holdridge sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $65.00, for a total transaction of $65,000.00. Following the transaction, the chief operating officer now directly owns 100,437 shares of the company’s stock, valued at approximately $6,528,405. This trade represents a 0.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,643 shares of company stock worth $384,617. 4.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Financial Perspectives Inc purchased a new position in shares of Dayforce during the 2nd quarter worth approximately $28,000. Quent Capital LLC acquired a new stake in Dayforce during the third quarter worth approximately $28,000. Sentry Investment Management LLC acquired a new stake in Dayforce during the second quarter worth approximately $33,000. Farther Finance Advisors LLC acquired a new stake in Dayforce during the third quarter worth approximately $40,000. Finally, Quarry LP acquired a new stake in Dayforce during the third quarter worth approximately $51,000.

Dayforce Company Profile

Dayforce Inc, together with its subsidiaries, operates as a human capital management (HCM) software company in the United States, Canada, and internationally. It offers Dayforce, a cloud HCM platform that provides human resources, payroll and tax, workforce management, wallet, benefits, and talent intelligence functionalities; and Powerpay, a cloud HR and payroll solution for the small business market.